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Trading is mixed early Monday and oil prices edged lower on fresh optimism over progress<\/a> in U.S.-Iran negotiations.<\/p>\n Futures for the S&P 500 inched back 0.1% before the opening bell, while futures for the Dow Jones Industrial Average were unchanged. Nasdaq futures ticked up 0.1%.<\/p>\n Oil prices fell as talks progressed over an end to the Iran war<\/a>. Brent crude, the international standard, traded down $1.55, or 2%, to $79.02 per barrel. It was at roughly $70 a barrel before the start of the war in late February.<\/p>\n The price for a barrel of U.S. crude fell 74 cents to $75.11.<\/p>\n High-level negotiations in Switzerland between the U.S. and Iran concluded early Monday, with lower-level technical talks set for the rest of the week. Mediators Qatar and Pakistan said \u201cencouraging progress\u201d was made during the negotiations.<\/p>\n Meanwhile, while Iran said the Strait of Hormuz<\/a>, a key waterway for oil and gas transport, was shut again over the weekend, the U.S. said that traffic had continued.<\/p>\n \u201cMoving towards a more permanent deal will be challenging, with very real risks of a flare-up in hostilities,\u201d ING commodities strategists Warren Patterson and Ewa Manthey wrote in a commentary on Monday.<\/p>\n Thomas Mathews, head of markets for Asia Pacific from Capital Economics, believes energy flows in the strait are more likely to recover only gradually. \u201cWith the controversial \u2014 and fragile \u2014 U.S.-Iran peace process now underway, attention is turning to how quickly tankers return to the Strait of Hormuz to load energy supplies,\u201d he wrote in a note.<\/p>\n Later this week, the government releases its May personal consumption expenditures price index, the preferred inflation gauge of the Federal Reserve. Other recent inflation data has shown that prices in the U.S. have risen significantly. That, combined with an improving labor market, has many Fed watchers forecasting a rate hike before the end of the year.<\/p>\n In Europe at midday, Britain’s FTSE 100 rose 0.5% after Keir Starmer<\/a> announced he was stepping down<\/a> as leader of the governing Labour Party and will leave office within weeks. Germany’s DAX was flat and France’s CAC 40 fell 0.4.%<\/p>\n In Asia, Tokyo\u2019s Nikkei 225 jumped 1.6% and ended at another all-time record of 72,353.96, led by technology stocks that were fueled by excitement over the global artificial intelligence boom.<\/p>\n Japan\u2019s SoftBank Group, the multinational investment holding company with a strong AI focus, rose 1.9%. Chip equipment maker Tokyo Electron was up 3.2%.<\/p>\n South Korea\u2019s Kospi gained 0.7% to 9,114.55, also a record closing high, helped by AI-related shares. Memory chip maker SK Hynix surged 5.6%.<\/p>\n The Nikkei 225 and Kospi were up more than 40% and 120%, respectively, over the past six months. Both benchmark indexes have been setting fresh records in recent days on AI enthusiasm and positive developments from the Iran war.<\/p>\n \u201cWe\u2019re seeing another strong market today,\u201d Neil Newman, managing director and head of strategy at Astris Advisory Japan, said. He cautioned that the Japanese market is \u201cprobably getting a little stretched\u201d from an investor\u2019s point of view, \u201cespecially with what\u2019s going (on) in the Middle East.\u201d<\/p>\n Hong Kong\u2019s Hang Seng lost 0.7% to 23,768.52, while the Shanghai Composite index was 1.8% higher at 4,163.10.<\/p>\n Australia\u2019s S&P\/ASX 200 was down 0.1% to 8,816.10.<\/p>\n Taiwan\u2019s Taiex rose 2.8%. India\u2019s Sensex was up 0.5%.<\/p>\n ___<\/p>\n Associated Press senior producer Mayuko Ono in Tokyo contributed to this report.<\/p>\n<\/div>\n